Kong Phan Sells 1,309 Shares of Confluent, Inc. (NASDAQ:CFLT) Stock

Confluent, Inc. (NASDAQ:CFLT - Get Free Report) CAO Kong Phan sold 1,309 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $24.00, for a total value of $31,416.00. Following the completion of the sale, the chief accounting officer now owns 243,317 shares of the company's stock, valued at approximately $5,839,608. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kong Phan also recently made the following trade(s):

• On Tuesday, May 20th, Kong Phan sold 1,890 shares of Confluent stock. The stock was sold at an average price of $21.83, for a total value of $41,258.70.
• On Thursday, March 20th, Kong Phan sold 3,175 shares of Confluent stock. The stock was sold at an average price of $26.86, for a total transaction of $85,280.50.

Confluent Trading Up 0.1%

Shares of NASDAQ:CFLT traded up $0.03 during mid-day trading on Monday, reaching $24.39. 3,921,729 shares of the company's stock were exchanged, compared to its average volume of 4,888,342. The company has a debt-to-equity ratio of 1.14, a quick ratio of 4.24 and a current ratio of 3.99. Confluent, Inc. has a twelve month low of $17.79 and a twelve month high of $37.90. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of -22.58 and a beta of 0.98. The business's fifty day moving average price is $21.97 and its 200-day moving average price is $26.85.

Confluent (NASDAQ:CFLT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $271.12 million during the quarter, compared to analyst estimates of $264.45 million. Confluent had a negative return on equity of 34.70% and a negative net margin of 35.81%. Confluent's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.05 EPS. On average, research analysts predict that Confluent, Inc. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CFLT has been the topic of several recent analyst reports. Truist Financial decreased their target price on shares of Confluent from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Bank of America lifted their price objective on shares of Confluent from $26.00 to $31.00 and gave the company an "underperform" rating in a research note on Wednesday, February 12th. Morgan Stanley cut their target price on Confluent from $32.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Raymond James initiated coverage on Confluent in a research note on Friday, April 11th. They issued an "outperform" rating and a $30.00 price target on the stock. Finally, Loop Capital lowered their price target on Confluent from $30.00 to $22.00 and set a "hold" rating for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $30.11.

Hedge Funds Weigh In On Confluent

A number of hedge funds have recently made changes to their positions in CFLT. Cloud Capital Management LLC acquired a new stake in Confluent during the 1st quarter valued at approximately $26,000. Credit Industriel ET Commercial bought a new stake in shares of Confluent in the 4th quarter valued at $28,000. Versant Capital Management Inc increased its position in shares of Confluent by 2,458.2% during the first quarter. Versant Capital Management Inc now owns 1,714 shares of the company's stock worth $40,000 after buying an additional 1,647 shares during the period. Banque Transatlantique SA acquired a new stake in shares of Confluent during the first quarter worth $43,000. Finally, SVB Wealth LLC bought a new position in Confluent during the first quarter worth $54,000. 78.09% of the stock is currently owned by institutional investors.

Confluent Company Profile

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.

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